Do they offer some sort of Guarantee? 

From the asset protection perspective having the debt on the rentals and owning your primary in FL has some advantages that many states do not offer wish my home state had this.  

They get in the door with a "cash offer" without cash.Wholesalers fail because they have the wrong why.

I'm gonna sound like a lawyer.

I also know its hard to find a good duplex or 3-4 unit but that does offer a good way to occupy a unit and still receive rents to offset the mortgage payment.

Your post didn't sound like it came from a landlord with 25 years of experience, so I was pointing to the basics hoping it would motivate you to do some research.A quick Google search revealed numerous NJ banks that offer the convenience of opening accounts online.

I would love to hear feedback from others that may have been in this situation or can just offer additional advice.Thank you so much!

My STR and LTR's are all schedule E.Unless you are cooking them breakfast or offering daily cleaning with a turndown service you will be on a schedule E.

We didn't feel the additional protections offered were necessary at this point in time.

Talk to a lawyer for this either way.